Goodwill and Identifiable Intangible Assets, Net

3 Months Ended

Mar. 31, 2024

Goodwill and Identifiable Intangible Assets, Net

Goodwill and Identifiable Intangible Assets, Net

6. Goodwill and Identifiable Intangible Assets, Net

Goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):

	Mechanical Segment		Electrical Segment		Total
Balance at December 31, 2022	$	363,929	$	247,860	$	611,789
Acquisitions and purchase price adjustments (See Note 5)		29,347		25,698		55,045
Balance at December 31, 2023		393,276		273,558		666,834
Acquisitions and purchase price adjustments (See Note 5)		195,900		200		196,100
Balance at March 31, 2024	$	589,176	$	273,758	$	862,934

Identifiable Intangible Assets, Net

At March 31, 2024, future amortization expense of identifiable intangible assets is as follows (in thousands):

Year ending December 31—
2024 (remainder of the year)	$	71,121
2025		63,532
2026		52,948
2027		50,967
2028		50,806
Thereafter		200,510
Total	$	489,884